SS by 6-4 Notice Date: Api'90, 2010 Account No.: 7720 —————— {aa Propel naaress: =m en (CHICAGO WL 60634 [WeORTANTHESSAGE ABOUT THis ACCOUNT “This letter will serve as BAC Home Loans Servicing, LP's demand for payment and advises you that BAC Home Loans Servicing, LP andlor ts Investors andlor Insurers have agreed to accept 1 short payoft involving the above referenced property ahd the referenced accounts). This demand’ should be vsed by the closing agent as our formal demand statement. No adtional Statement willbe issued. This approval fs exclusive to the offer from the buyer referenced in this eter RAS SS SL BAC Home Loans Servicing, LP andlor ils investors may pursue a deficiency judgment fr the difference in the payment received and the total balance due, unless agreed otherwise of prohibited by law, Ifthe short sale cases on the loan referenced above. in adition, if ths loan Fe covered by mortgage ineurance, the morigage Insurance company may reserve the right 0 pursue the seller for the deficiency based on the terms of the morgage insurance policy. Furthermore, there may be tax consequences associated with ertering into a short sale. The ‘eller is encouraged to seek guidance fom en independent tax advisor, and/or an attomey, before proceeding with the shot sale If thie short sale is contingent upon BAC Home Loans Servicing, LP andlor its investors Teceiving a promissory note, we wil reserve the right to collect the full amount on the new promissory note wich may lead to us pursuing a deficiency on that balance should the need Brive. I the short eale does not close, then we wil pursue all emedies under our note and morgage. Ths ofer fs contingent upon BAC Home Loans Servicing, LP receiving @ properly ‘executed and notarized Promissory Note, if applicable, to ths shot sale transaction, ‘The conditions of the approval are as follows: pay extendad + losing must take place no leer than 05 132010" or ths approval is void. fan Sitonson is requested andlor approved, then par em interest wil be charged though losing Shou the closing be delayed and the Investa/nsurer agree to an extension of {he orbina dosing date, he Boroner(e/Selers) wil be responsible for any per dem fees trough the new date(e) of cosing, extension Tees and foreiosure sale pontporemort foes. "The Borrowers)Sete(s) wil be responsible fr any adaiional Fob or fece over the sated approved amour 2 Theaproved byes) 1 and the sales price forthe propery is $ 158000 3. Another buyer cannot be sibstites without the prior writen approval of BAC Home anne Servicing, Le. 4. Closing costs have been negotiated and agreed upon withthe authorized agent as of April 30, 201¢ Total Closing Costs not lo exceed $ 2116873, [Maximum commission paid $ 9360.00 ‘Maximum alowed to the J. Lien Holder $ Maximum allowed for HOA liens $ (if eppicabe) Maximum allowed for repairs $ 0.00 (applicable) Maximum allowed for termite inspectionrepairs $ 0.00, CG applicable) ‘Any addtional fees that were not approved on Aprit'20, 2010 will nat be covered by BAC Home Loane Servicing, LP and become the sole responsibly of ether the ‘agent, the buyer or the seller pay at closing. 5. Net proceeds to BAC Home Loans Servicing, LP tobe no less than 2 a Proceeds trom Sale § 13483.27 300000 ‘Cash Contribution § 0.00 $0.00 Promissory Note $000 $0.00 [BAC Home Loane Servicing, LPs subeidlary of Bankof Amoi, NA6. The property ie being sold in “AS IS" condition. No repairs wil be made or be paid cut of the proceeds, unless specifically stated otherwise 7. As tated in #5, the Seller isto contribute $ 0.00 «to asic inthe closing Of this transaction. This conrbution wil be in the frm of. a. PROMISSORY NOTE(s) (Signed, notarized and returned at closing): n= si Promissory Note $0.00 $0.00 2 promissory notes) is required, it must be signed and uploaded to the Short Sale ‘System por a the close of escrow” Ite the responaibllty of the closing agert to ensure that the execcled and notarized promissory note is relumed to BAC Home Loans. Servicing, LP. i @ promissory note(s) has already been signed’ and agreed to between the seller, ester ang. the Mortgage Insurance Company, a sighed ceiied copy must be provided t'BAC Home Loans Servicing, LP atthe close of the short sale transaction, It Fr the responsibilty ofthe closing agert to ensure that BAC Home Loans Servicing, LP receives the copy. + Sales proceeds will be retumed If the note has not been received. This will ‘result ina delay of the transaction andlor possible cancellation ofthis short sale transaction. b. CERTIFIED FUNDS CONTRIBUTION (Due at closing): Tr = ash Contribution $0.00 $0.00 8, The sellers will not receive any proceeds from this short sale transaction. If there are any remaining esorow funds of refunds, will not be returned tothe seller i will be sent fa BAC Home Loans Servicing, LP to offset the oss. 9. Completed Assignment of Uneamed premium is to be uploaded to the Short Sale System slong wth the final Settement Ststement. 410. There ae tobe no transfers of property within 20 days of the closing ofthis transaction. 11The property must be free and clear of liens and encumbrances other than those recognized and accounted for inthe HUD-1 approval, on which this approval is besed. 112 BAG Home Loans Servicing, LP does not charge the borrower fr statement, demand, recording, and recorveyance fees on short payoff transactions. Do not include them in Your settlement statement. BAC Home Loans Servicing, LP prepares and records its fun recorweyances. 43.All funds most be wired. Any other form of payment of funds willbe returned. Payot {funds must be received within 48 business hours of the HUD-1 settlement date 1 the seller is entiled to receive any prodeeds based on a claim for damage to the property Under any policy ofinaurance, including Fomeowne', lenderplaced, casually, fie, food, ec. ort sel is entiled fo receive other miscellaneous proceeds, as that term fe defined in the Seed of tustimorigage (whsoh coud include Communty Development Block Grant Program (CDBG) funds), these proceeds must ba disclosed before we wil consider the request for short Sele. if we recolve 8 check fot ineurance of miscellaneous proceeds that were not previously ‘Sieciosed. BAG Home Loans Servicing, LP wil have the right to keep the proceeds and apply them fo BAC Home Loans Servicing, L's loss after the shot sale. We simlariy would have the Tight to claim the proceeds to offset our losses it were not previously cisclosed and it was sent ddrecty to the borrower. a . IMPORTANT INSTRUCTIONS “ ‘The closing agent must upload a certified copy of the final estimated Settlement Statement to the Short Sale System 72 hours prior to Closing. You cannot close without final approval ofthe closing costs. Payoff funds must be wited unless atherwise specified to: Bank of America 275 Valencia Averue Brea, CA 92823 MRC Reet # 12830-88501 ‘ABA 026-008-593 Reference loant 77208 => J [BAC Home Loans Servicing, LPisa subsidy of Bank of Americ, NA|WIRES MUST CONTAIN THE LOAN NUMBER, BORROWER'S NAME AND PROPERTY ADDRESS. 1F WE CANNOT IDENTIFY THE FUNDS, THEY WILL BE RETURNED, =A cetttied copy ofthe Final Settlement Statement must be uploaded to the Short Sale System at the time of closing. Upon receipt ofthe above stated tems, BAC Home Loans Servicing, LP wil issue a release of len ‘on ts mortgage foan, [BAC Home Loans Serving, LP appreciates all your efforts and coopegtion inthis mater. If you have any futher questions, please contact our Short Sale Customer Contact Department at 1~ (266-880-1232. BAC Home Loans Servicing, LP ica subsiiary of Bank of Amica, NA